BEAT THE HEAT – WITHOUT BREAKING THE BANK!
28th June 2022
It’s not just the summer heatwave that has us hot under the collar. We – like you – are staggered at the rising cost of EVERYTHING.
According to Loop, keeping cool this summer could add around £276 to your energy bills. That’s up by £76 because of the April energy price cap rise and works out at around £5 per day over July and August. Money that could definitely be better spent. But how does that break down?
If you’re heating a small pool, your energy bill could run to £13 a day. An air conditioning unit costs 33 times more than a small cooling device. And 55 times more than a 40w fan. If you’re running a small fridge just for beer and wine, that can add almost £25 to your summer energy bill. Oh, and here’s the really not cool news: that hot tub you bought in lockdown? It costs 60% more to run it now than it did last summer.
It all takes the shine off a cold one at the end of a hard day!
But here at RIFT we don’t get angry. We get even… better with money! So here’s a few cool tips to help you take the heat out of summer… it’s as easy as:
- Freeze Water Costs
- Cool it with the Kilowatts
- Lock in Energy Savings Now
Freeze Water Costs
Or at least get them down as much as you can.
Average household water bills were hiked back in April by around 1.7% or £7 a year.
You can’t switch your water supplier like you would with other utilities, but you can get smart:
- Get a smart meter, especially if there are more bedrooms in your home than people. That’s because if you’re getting an estimated water bill, it will be based on the size of your house, not the number of people living in it. A smart meter is smart because you only pay for what you use. Simples!
If you can’t get a water meter, ask for an ‘assessed charge bill’ that is based on things like how many people live in your home.
- Go to your water company’s website to find out what gizmos and gadgets they can send you for FREE to minimise your water use. Those include things like water-saving shower heads, tap inserts, garden hose nozzles and toilet cistern bags.
TOP TIP: Pick up a cheap egg timer – it’s a fun way to teach kids (and adults!) to be quick in the shower!
If you’re already behind with your water bill – don’t panic! Call your water company to ask what support they offer. You can get on a payment plan, cap how much you pay or you may qualify for a discount.
What You Can Do TODAY to save water:
- Swap baths for showers. They use around 1/3 of the water.
- Turn off the tap when brushing your teeth – every little counts!
- Save washing up and do it all at once.
- Only do full loads in your dishwasher – which is more water efficient than hand washing.
- And the same for your washing machine – turn the temperature down to save on energy too.
Cool it with the Kilowatts!
The only real way to save money on energy is to use less energy. And while right now you don’t have to worry about the heating bill too much, it’s the cooling bill you need to think about.
Some cooling equipment can be expensive to run. You might not notice that hour-by-hour, but costs can rack up – especially if you’re running a few appliances.
Stay Cool without the Cost
Our top tip for saving on cooling costs? Ditch the air con if you can.
An air conditioning unit costs around £4.98 to run per 8 hour day.
A 65w air cooler costs 14p per day or a 40w fan costs 9p per day.
Ditch the Dryer
Dryers are super-expensive to run and make your clothes harder to iron. Hang your washing out to dry – it’s FREE! And your washing will also smell fresher - we love that line dried feeling!
Hang Heavier Curtains
Heat-retaining curtains aren’t just for winter - but they will come in handy then too. On chilly summer evenings, they’ll help retain heat and keep your rooms cosier through the night.
Switch off Standby
Appliances on standby are using energy. If you have a few running, costs can mount up over the month. Make it easy to switch them off by installing smart plugs you can control from your mobile. That is clever!
Hurl the Patio Heater
We know they’re lovely on those cooler summer evenings but do the benefits justify the cost? One could add around £50 to your monthly energy bill if you use it for just 4 hours a day. Do yourself a favour and get some nice throws for you and your guests – that £50 would pay for some delicious food and drinks!
Winter is Coming - Lock in Energy Savings NOW!
More than 22 million families like yours are on the standard energy price cap – which saw your bills increase by more than 54% in April.
That’s a whopping £1,971/year for typical users.
With another hike expected in October, it’s time to get into better habits. Money Saving Expert Martin Lewis is advising people to lock into a fixed energy tariff before there’s another eyewatering rise which could be up to 65%...
That’s £3,244 a year for typical users.
Our No.1 tip for saving on winter fuel bills?
INVEST IN INSULATION
If you haven’t already, now is the time to get insulation installed. Modern insulation can be easy to pump into wall cavities or fit between rafters. And it’s very effective.
Add a smart thermostat into the mix and you’re winter ready – no more going out and wondering if you’ve left the heating on, racking up the cost.
ENERGY PRICE CAP RISES: LOCK IN FOR THE LONG TERM
THIS IS THE IMPORTANT BIT: you won’t be able to find a tariff deal today that is cheaper than the cap, BUT you can lock into a fixed rate to avoid the further increase.
Plus, at the time of writing, the predictions for the energy price cap rises in October and January are going up.
The long and short of it is: shop around.
If you’re one of the 70% of households not already on a fixed rate, it’s time to spend some energy on market research.
ook for deals that are cheaper than the expected energy price cap rise. Here are a few top tips to help you make the switch:
- The top deals are usually for customers only and companies don’t need to publish these so you’ll have to ask!
- Tariffs can be pulled at any time.
- Tariffs can be replaced with ones with similar names so check that the tariff you’re talking about is the one you’re being offered.
- Check if there are exit-penalties – these are increasing and we’ve noticed they can be up to 10x higher than a year ago.
Check if you're due a tax refund
The average RIFT refund is around £2,500 – which would really help to take the heat out of energy costs.
Use our free tax refund calculator to check if you're owed money back today.